ECON 7200NA - Economic Principles (M)
Ngee Ann Academy - Trimester 1 - 2015
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General Course Information
Course Details
Course Code ECON 7200NA Course Economic Principles (M) Coordinating Unit Economics Term Trimester 1 Level Postgraduate Coursework Location/s Ngee Ann Academy Units 3 Available for Study Abroad and Exchange N Course Staff
Course Coordinator: Bingxuan Lin
Course Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
Please refer to Ngee Ann-Adelaide Education Centre Schedule. -
Learning Outcomes
Course Learning Outcomes
Economics is often divided into two streams: microeconomics and macroeconomics. Microeconomics focuses on the behaviour of the economic units, such as firms, households and individuals. Macroeconomics looks at the economy as a whole, especially the behaviour of aggregate measures such as the rate of unemployment, the rate of inflation, gross domestic product, exchange rates, economic growth and the business cycle. We will be selecting issues from both fields for your attention. Basic theoretical tools are introduced as required to deal with the issues being discussed. In the process, we will introduce you to a large number of economic concepts, analytical tools, the ‘language’ of economists and why it is pertinent that Master of Commerce students understand these. The aim of the course is to provide students with an understanding of the key macroeconomics and microeconomics principles in order to make effective business decisions. That is, the aim of the course is to develop your economic literacy skills.
As you study each topic it will be related to a current economic policy question, management or business strategy issue or social issue. By the time you complete this course, you should be able to analyse a business problem form an economic perspective and then be able to effectively communicate economics concepts with economists and non-economists in a variety of contexts.
In order to develop your economic literacy this course has the following learning objectives;
1. To understand the more important economic principles;
2. To apply economic principles to solving business problems;
3. To develop analytical skills;
4. To develop both independent learning and group work skills
5. To understand the broader social consequences of economic decisions making.University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1 The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 2 & 3 An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 2 & 4 Skills of a high order in interpersonal understanding, teamwork and communication. 3 A proficiency in the appropriate use of contemporary technologies. 3 A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 5 A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 5 An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 5 -
Learning Resources
Required Resources
Hubbard, G., Garnett, A., Lewis, P. and O’Brien, T. (2015) Essentials of Economics 5th edition, ISBN 978-0-13-345544-1Recommended Resources
Regularly reading business newspapers are strongly recommended, such as Business Times (Australia), Financial Times (England), Wall Street Journal (USA).
This course sticks quite closely to the prescribed textbook, even though the sequencing is not quite the same, so you should buy a copy of the textbook.Online Learning
Important messages, topic notes, power point slides and other materials relating to the course will be placed online throughout the course. The address for the course website is:
https://sites.google.com/site/econ7200na/ -
Learning & Teaching Activities
Learning & Teaching Modes
The course is based on seminars and class exercises. It includes two intensive 17 hour sessions.Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular classes.Learning Activities Summary
Time Topic Title Reading Jan 23
7-10pmOpportunity cost/Scarcity and choices
Comparative Advantage
Supply and DemandChapter 1
Chapter 2
Chapter 3Jan 24
1-8 pmElasticity
Economic Efficiency
Consumer Demand
Rationality/Behavioural economicsChapter 6
Chapter 4
Chapter 10
Chapter 10Jan 25
9-4 pmThe Firm: Technology, Production and Costs
Firms in Perfect Competition
Monopoly
Externalities, Environmental Policy and Public GoodsChapter 11
Chapter 12
Chapter 15
Chapter 5Feb 13
7-10pmGDP: Measuring Total Production and Income
Unemployment and Inflation
Economic GrowthChapter 19
Chapter 20
Chapter 21Feb 14
1-8 pmLong-Run Economic Growth: Sources and Policies
Aggregate Expenditure and Ouput in the Short Run
Aggregate Demand and Aggregate Supply Analysis
Monetary PolicyChapter 22
Chapter 23
Chapter 24
Chapter 26Feb 15
9-4pmFiscal Policy
Inflation, Unemployment and Federal Reserve Policy
Macroeconomics in and Open Economy
The International Financial SystemChapter 27
Chapter 28
Chapter 29
Chapter 30 -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Class participation: 10 per cent
Mid semester test: 20 per cent
Group assignment: 30 per cent
Final Examination: 40 per centAssessment Related Requirements
Attendance
Statutory obligations in Singapore are such that attendance in person is a compulsory condition of passing a course. Our specific requirements are that students must attend at least 80% of class sessions to be graded for that course. For these purposes each intensive weekend is defined as comprising 5 sessions with 1 on Friday evening and 2 on each of Saturday and Sunday.
Each course in total comprises 10 sessions; Students must attend a minimum of 8 sessions to be eligible to be given a grade for the course. Students failing to meet these requirements will be automatically graded 0% Fail (F) on their transcripts.Assessment Detail
Individual assessment task will be provided in class.Submission
Details will be provided in class.Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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Fraud Awareness
Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.
The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.
